ORLANDO— We’ve been talking with Josh Busby, a vice president at Continental Real Estate Companies, about commercial real estate trends. Over the past months, he’s told us what Central Florida retail markets are the hottest, described how big the retail void really is, and went beyond specialty retail grocers to discuss what else is hot in retail.
In this final installment, we asked Busby about his own form. What are some opportunities for growth and expansion over the next 12 to 24 months?
“With each new project we are appointed to lease, sell or manage at CREC, we are strengthening our existing relationships in the Central Florida market and building on those to create new business opportunities,” Busy tells GlobeSt.com. “The firm is positioned to finish this year strong with significant market share growth in the region and will enter 2016 with a great deal of momentum.”
Specifically, Busy expects investor and tenant interest will grow further in Central Florida’s key submarkets next year. He also predicts the market should capture additional national and international investor interest, particularly from South America.
“Orlando’s position as a top tourist destination, reaching record visitor numbers over the past year, and the establishment of a Major League Soccer team, Orlando City Soccer Club, are factors helping to draw more investor demand,” Busby says. “When a shopping center in the region hits the market for sale, offers come in from all over the country and around the world.”
And Busby sees another factor working in Orlando’s favor: The price wars for well-positioned assets that Miami is experiencing, which he says is driving more investors to turn north towards markets like Orlando in search of quality assets at more accessible prices.
“With all commercial real estate sectors, from retail to office and multifamily, experiencing strong performance in the region, Central Florida is poised for further growth and investment in the year ahead,” Busby says. “We are positioning CREC to continue to expand the firm’s real estate portfolio and benefit from the added market demand.”